Nigeria has the potential to become the fastest growing major African economy with a projected annual GDP growth rate of 4.2% over the period 2016-2050. By 2050, the IMF and PwC estimate it will rise in the GDP rankings to become the 14th largest economy peace.

The population, currently about 189 million, is expected to double over the next 30 years, at an average population growth rate of about 2.3% per year. Nigeria is now entering a period of strong growth in its working-age population.

Economists believe that through the diversification of the oil sector, Nigeria will see growth in a large consumer market. Service sectors such as logistics will see significant progress through the development of infrastructure and transport networks. This will help boost Nigeria's manufacturing industry.

Nigeria's growing economy also means that the middle-income middle class sector should exceed 40 million people and consumers will increasingly want to own their own cars, increasing the demand for car maintenance and repair services. BMI forecasts new car sales in Nigeria to grow by 2.8% in 2018.

Currently, about 35 companies have received licenses to assemble cars. With a commitment to developing the domestic car manufacturing market, the long-term forecast is that by 2050, 70% of new cars sold will be made or assembled in Nigeria.

Exports from Russia to Nigeria are relatively insignificant (0.2% of Russia's total exports), but are gradually developing. There were jumps in the dynamics of exports in 2018.
(up to $734 million due to an increase in the supply of wheat and oil products) and in 2021 (up to $883 million due to an increase in the supply of oil products). For Nigeria, Russia is a fairly significant import partner.
In 2021, Russia provided 4% of deliveries to Nigeria and took 6th place in the country's import structure.
Statistics from Nigeria and Russia differ significantly. In 2021, according to Nigerian data, deliveries from Russia reached $2.1 billion, according to Russian data, $0.9 billion, which is more than 2 times lower, but is due to the route of supply of petroleum products and affects industrial goods to a lesser extent.
The main exports from Russia to Nigeria are oil products and wheat, which in 2021 provided almost 90% of Russian supplies to the country. Exports also include rolled sheets, potash and nitrogen fertilizers, and frozen fish.
Russia is among Nigeria's main wheat import partners; immune products, blood; unalloyed hot-rolled sheet metal; fertilizers.

Structure of Russian exports to Nigeria:
Fuel 57%
Grain 29%
Fertilizers 5%
Pharmaceutical products 2%
Fish and seafood 2%
Ferrous metals 1%
Other 4%

There is no direct flight connection with Lagos. The cost of a round-trip ticket is from 65,000 rubles with one transfer.
Entry into Nigeria is carried out on the basis of a visa. A visa can be obtained at the consular section of the Embassy of Nigeria in Moscow: https://www.nigerianembassy.ru. The cost of a single entry visa will be 84 US dollars. Processing time is about 7 days.
You must have a Covid-19 vaccine to enter Nigeria. Current vaccines: Astra Zeneca, Pfizer, or Moderna (2 full doses) or Johnson & Johnson (single dose). Nigeria is not on the list of countries where Sputnik-V is recognized.

“Passengers must have a negative COVID-19 PCR test taken no later than 48 hours before departure from the first boarding point. The test result must be in English;
Passengers traveling on business and staying in Nigeria for less than 7 days must have a COVID-19 vaccination certificate confirming that they have been fully vaccinated;
Passengers must obtain a "Travel Permit" prior to departure. "Travel Permit" can be obtained at https://nitp.ncdc.gov.ng and must have a QR code;
Passengers are subject to a medical examination;
Unvaccinated passengers are subject to self-isolation for 7 days.


The information is current as of 09.01.2023".